Market reviewn The 2016 Execution Management System Survey

specialist (single asset class,
single broker etc.) capabilities, which are easier and
faster to deploy but harder to
integrate and maintain.

Sophisticated clients aremore complex to sell andimplement and moredemanding post-sale, but‘stickier’ once won. That is along way from where theindustry began but still hasscope for expansion andchange in the future. nthat reflects realism andmaturity or a cynicalresponse to an industry ten-dency to oversell is not clearfrom the data.

The EMS business hascome a long way in its fifteenyears or so of existence; frombroker marketing tool tointegral component of everyfirm’s trading. Broad rangingEMS capabilities, integratedinto other systems appear toconfirmed by Figure 6 whichshows the types of instru-ments being traded usingthe EMS capabilities. In allcategories the score is lowerthan a year ago. This sug-gests that there is a concen-tration by respondents onusing systems that work, andif their existing providers donot deliver, then either workwith another specialist whodoes, or go back to the oldways of trading. Whether

0 10 20 30 40 50
0 10 20 30 40 50

Direct links to
execution venues
Links from OMS
to brokers
Multiple single broker
or single asset
Single multi broker/
multi asset

Percentage of respondents201420152016FIGURE 7: TYPES OF EMS USEDThe EMS business has come a long way in its fifteen years or so ofexistence; from broker marketing tool to integral component ofevery firm’s trading.